"The Eurozone Scream"

A look at reaction to the Greek crisis and the prospect Italy could come under much heavier pressure for its debt burden. One Irish broadsheet conveys some of the mood with a cartoon suggesting the G20 summit in Cannes, aimed at fixing financial woes, is a bit like being in the Edvard Munch painting "The Scream". That's the focus for this international press review, Friday 4th November 2011.

In the Greek press, the English-language version of Katherimini has a comment piece entitled: “An end to uncertainty”. It is really a heartfelt plea. The writer, Alexis Papachelas, says Papandreou’s grilling in Cannes was humiliating. He says an interim government is the only way forward, adding that, if by Monday - after a weekend’s wrangling - uncertainty remains in Athens then “nothing will save the political system and country from rage and chaos”.

That same paper has a cartoon showing Papandreou on the phone. He’s saying: “thanks for the congratulations, yes I’ll do as agreed, don’t worry.” His Finance Minister chimes in to ask: “Who is it? Merkel?” And Papandreou turns to tell him “No it’s not Merkel, it’s my Mum”. That’s a Greek insight into the credibility gap.

Another Italian is making the news in this crisis: “Super Mario” aka European Central Bank Chairman Mario Draghi. The Wall Street Journal Europe says you have to be thankful for small mercies that he made a success of his first press conference as he announced a quarter point cut in interest rates. The paper warns, though, that he faces a series of tough questions which will need answering by December. It argues that this is: “New Actor, Old Script”.